Petrol and Diesel Rates Today in Mumbai, Delhi, Chennai, Bengaluru: Prices of petrol and diesel stood the same across the country for the 50th consecutive day on Monday, July 11, 2022.
In Mumbai, petrol remains available for Rs 111.35 per litre, while diesel continues to cost Rs 97.28 per litre. At the same time, in Delhi, a litre of petrol continues to retail at Rs 96.72, while that of diesel is priced at Rs 89.62.
In May, Nirmala Sitharaman, the Union Finance Minister, had announced a cut in the excise duty on petrol and diesel of Rs 8 and Rs 6, respectively. This led to a reduction in the price of petrol and diesel in the national capital by Rs 8.69 and Rs 7.05 per litre, respectively, on May 22 — the last time the prices of both these fuels underwent a change.
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In India, petrol and diesel prices differ in each state based on local taxes (VAT) and freight charges. This aside, the central government also collects an excise duty on the automotive fuels.
Earlier this month, Centre imposed an export tax of Rs 6 per litre on petrol and ATF and Rs 13 per litre on diesel. Additionally, the government also imposed a cess of Rs 23,250 per tonne (by way of special additional excise duty) or windfall tax on domestic crude sold to local refineries at international parity prices.
Generally, the oil marketing companies (OMCs) adjust the prices of petrol and diesel on a daily basis on the basis of the benchmark fuel’s average price over the previous 15 days in the global market and foreign exchange rates.
In the global market, oil prices fell on Monday in volatile trade, reversing some gains from the previous session as markets braced for new mass Covid testing in China potentially hitting demand, a worry that outweighed ongoing concerns about tight supply, news agency Reuters reported.
Brent crude futures fell $1.02, or 1%, to $106.00 at 0605 GMT, after climbing 2.3% on Friday. US West Texas Intermediate (WTI) crude futures declined by $1.38, or 1.3%, to $103.41, paring a 2% gain from Friday, the report said.
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Petrol and diesel rates in major cities on Monday, July 11, 2022:
| City | Petrol (Rs/litre) | Diesel (Rs/litre) |
| New Delhi | 96.72 | 89.62 |
| Mumbai | 111.35 | 97.28 |
| Kolkata | 106.03 | 92.76 |
| Chennai | 102.63 | 94.24 |
| Bengaluru | 101.94 | 87.89 |
| Hyderabad | 109.66 | 97.82 |
| Patna | 107.24 | 94.04 |
| Bhopal | 108.65 | 93.90 |
| Jaipur | 108.48 | 93.72 |
| Lucknow | 96.57 | 89.76 |
| Thiruvananthapuram | 107.71 | 96.52 |
| Source: Indian Oil Corporation |
